First a disclaimer: I don't like Buck knives. Others do, and I'm cool with that, but for me, they are a no go. This is based on two Bucks I have owned, both folders, both of 1970-1980's vintage. The steel would not hold an edge for long. Newer ones may be better.
The 119 is a pretty Ka-Bar with a hollow grind masquerading as a hunting knife. Now I like the Ka-Bar for what it is, a Fighting/Utility knife that excells at the former and is passable as the latter. My example (an old Camilius) has a flat grind. To me, this is preferable to the hollow grind of the Buck.
As a hunting knife (it's advertised rasion d'etre), it falls behind many other designs. As a fighter, I am sure it is passable, but as that is not an area that I am proficient in (yet) I will refrain from comment.
Roughing up that handle would be a requisite. Paracord would likely be too thick. Try some jute twine or some thin cotton twine using simple whipping before permanantly altering the grip with sandpaper or sandblasting.